Ex-CEO of Gas Titan Targets SPAC Investments in Clean Energy

The former head of a major U.S. shale driller is eyeing more investments in the energy transition after his first blank-check company announced a deal to create a $1.15 billion renewable natural gas business.

Daniel Rice IV’s Rice Acquisition II special-purpose acquisition company, which filed for a $250 million initial public offering last month, will focus on sustainability and the movement away from fossil fuels. Its predecessor, Rice Acquisition Corp., last week agreed to merge with two other companies to form a venture, Archaea Energy, to harness gas seeping out of landfills.